2022 Fuel subsidies

The global energy price crisis caused an important increase in costs for the Colombian government fuel subsidy scheme. 

The Fuel Price Stabilisation fund, who compensates producers and importers for discrepancies between domestic tariffs and international prices, saw its deficit rise between December 2021 and Q2 2021, leading the Colombian government to make financial transfers at the end of 2021, in the Spring 2022 and in 2023.

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